Wang Yis Speech at the United Nations General Assembly: Dont Accept Blackm

After the United States imposed additional tariffs on China's trade, Chinese State Councilor and Foreign Minister Wang Yi stated at the United Nations today that trade frictions should be resolved through dialogue on an equal footing.

Talking about the situation on the Korean Peninsula, Wang Yi said that China supports the comprehensive improvement of relations between the DPRK and the ROK, supports the DPRK and the United States in advancing the dialogue process, and encourages the DPRK to move forward along the direction of denuclearization.meet each other.

Wang Yi said that China strictly implements the resolutions of the UN Security Council concerning North Korea, and also calls on the Security Council to take timely actions according to the development and changes of the situation, so as to create more favorable conditions for the peaceful settlement of the Korean Peninsula issue through political and diplomatic means.In addition to denuclearization, a peace mechanism on the Korean peninsula must also be established. Only by turning the two wheels forward together can the problem be resolved and peace be hoped.

After U.S. President Trump met with North Korean leader Kim Jong-un in June, North Korea’s denuclearization has made limited progress, while China and Russia’s sanctions on North Korea show signs of loosening.U.S. Secretary of State Mike Pompeo yesterday urged members of the UN Security Council to lead by example and implement sanctions against North Korea. Wang Yi advocated that sanctions should be appropriately relaxed, which is at odds with the U.S. position.

Another major battleground between the US and China is trade.The United States has so far imposed tariffs on $250 billion of Chinese goods in order to pressure China to change its market-distorting actions such as subsidizing specific industries.Not to be outdone, China hit back at the US with retaliatory tariffs and refused to return to the negotiating table.

In his speech at the UN General Assembly, Wang Yi said that the essence of international trade is to complement each other's advantages and achieve mutual benefit.Without naming the United States, he said: Protectionism will eventually harm itself, and unilateral actions will inevitably bring disaster to all parties.

In the face of trade frictions, Wang Yi said that China has always advocated that they should be properly resolved through dialogue and consultation on an equal footing in accordance with rules and consensus. China does not accept blackmail, let alone pressure.He said that this position is to safeguard China's own legitimate rights and interests, the free trade system and the international rules and order.

In terms of China's economic development, Wang Yi mentioned that this year marks the 40th anniversary of China's reform and opening-up, and China is confident in maintaining a positive economic momentum and creating more trade opportunities for the world.China will never close its doors and retreat, and its door will only open wider and wider.China will not build high barriers, and the barriers to entry will only become lower and lower.

Wang Yi’s speech was titled Adhering to Multilateralism and Pursuing Peaceful Development. Throughout the speech, he emphasized that China firmly pursues multilateralism and urged all countries to jointly safeguard the international system with the United Nations at its core and the multilateral trading system with the World Trade Organization (WTO) at its core.Replace confrontation with cooperation, coercion with negotiation, and build a big family instead of a patchwork of small circles.

As trade, military, and political friction between the United States and China intensified, some of Wang Yi's speech alluded to the United States, including urging member states of the United Nations to pay their dues and peacekeeping contributions in full and in a timely manner.The United States pays about 22% of the UN's dues every year, but has accumulated hundreds of millions of dollars over the years, and has been ridiculed as a major debtor to the UN.

There is no need to panic about US-China trade friction

NEW YORK (Reuters) - Chinese State Councilor and Foreign Minister Wang Yi said on Friday that China's economy is shifting from high-speed growth to high-quality growth and there is no need to panic about trade frictions between China and the United States.He also said that it is very important to keep Sino-US relations on the right track.

U.S. President Donald Trump accused China of seeking to interfere in the Nov. 6 U.S. congressional elections at a U.N. Security Council meeting on Wednesday, a charge Wang rejected.

Wang Yi believes that the relationship between China and the United States is at a crossroads. We can overcome the current difficulties and must take concrete actions to maintain the relationship between the United States and China.Wang said that it is a wrong judgment to think that China seeks hegemony; China will not challenge the United States.Wang Yi said that further cooperation with China is the key to realizing the denuclearization of North Korea.

EU to tell G20 that escalating trade tensions will hit global growth hard

BRUSSELS (Reuters) - European Union countries will tell global financial leaders next month that rising trade tensions will have a serious negative impact on global growth and that they should reject protectionism and commit to settling disputes through the World Trade Organization.

The finance ministers and central bank governors of the world's 20 largest economies (G20) will meet in Bali, Indonesia on October 11-12. The trade war between the United States and China and trade tensions with the United States and Europe will become the mainissue.

We are concerned about the risk of escalating trade disputes, which would have a serious negative impact on strong, inclusive, sustainable and balanced global growth and investment, EU finance ministers wrote in a document prepared for the meeting.The document will be formally ratified on October 2.

The document, seen by Reuters, also said the G20 should reaffirm its commitment to open markets, combat all forms of protectionism, including all unfair trade practices, and strengthen rules-based multilateralism to protect goods and services.Trade, investment and intellectual property provide a level playing field, etc.(End)